The Company participates in a defined contribution plan (the Contribution Plan), provided by MMC under Section 401(k) of the Internal Revenue Code, for all eligible employees of MMREIS who have completed one month of service and have reached age 21. Once eligibility requirements have been met, for purposes of salary deferrals, the entry date to the Contribution Plan will be the first day of the plan year quarter coinciding with or next following the date the employee satisfies the eligibility requirements. The Contribution Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended. Participants may contribute up to 100% of their annual eligible compensation, with a maximum contribution of $17,500, $17,000 and $16,500 for 2013, 2012 and 2011. An additional $5,500 contribution is allowed for participants age 50 or older. MMREIS makes matching contributions equal to 50% up to 4% of both deferred and after-tax salary contributions, up to a maximum of $4,000 per eligible employee per year. Contributions totaled $0.3 million for the year ended December 31, 2013 and no contributions were made for the years ended December 31, 2012 and 2011. Participants are entitled to retirement benefits at age 59 ¹⁄₂. Effective January 2014, MMI will have its own defined contribution plan under the same terms.